Chinese consumers remain gold enthusiastic despite soaring prices

After three months of wide fluctuations, gold price has entered a strong upward trend, pushing up the prices of gold jewelry across China and igniting a surge of trading enthusiasm in Beijing.

Gold prices surged significantly on Wednesday. During the Asian trading session, London spot gold prices briefly approached 3,547 U.S. dollars per ounce during intraday trading, while gold futures on the New York Mercantile Exchange briefly surpassed 3,616 U.S. dollars per ounce, both marking historic new highs.

Many gold jewelry stores in Beijing have seen high foot traffic these days as the price of gold continues to rise.

"I've been looking for a gold bracelet. The price of gold has been on the rise recently, and it has increased quite much now. I plan to buy a gold bracelet these two days," said a Beijing resident.

"I came here to check if there are any new designs. Last year, when the price of gold was over 600 yuan (about 84 U.S. dollars) per gram, I bought a bracelet, a very good buy. I never expected the price to suddenly surge to over 1,000 yuan per gram. Thinking about it, I feel very pleased. If I see something nice, I'll definitely buy again," said another resident in Beijing.

Salespeople said that there has been a noticeable increase in both inquiries and purchases of gold jewelry recently, especially over the past week, with many young couples visiting the stores.

Gold jewelry with fashionable designs and lighter weights has won the favor of a large number of young consumers.

"Due to the rise in gold prices, we have received many inquiries and buyers. Like this week, our sales reached about 480,000 yuan (about 67,210 U.S. dollars). As it coincided with the Qixi or Double Seventh Festival, or Chinese Valentine's Day, foot traffic increased by around 30 percent than usual, and sales also rose by about 30 percent," said Deng Xiyue, manager of a gold store in Beijing's Chaoyang Joy City shopping center.

Not only has consumption in offline gold jewelry stores improved, the gold sector in A-shares and Hong Kong stocks has also collectively benefited. A dozen gold-related stocks have doubled in value this year, and gold-related exchange-traded funds (ETFs) have been highly popular among investors.

According to Wind Data, as of the close on Thursday, there were 14 commodity-based gold ETFs and six equity-based gold ETFs in the market. Among them, gold ETFs achieved a year-to-date return of around 30 percent, while gold ETFs saw year-to-date returns of around 60 percent.

However, industry insiders pointed out that the recent significant rise in gold prices has also incurred more risks of short-term volatility.

According to Li Zhao, Head of Multi-Asset Strategy at the China International Capital Corp Ltd., given the past experience of gold bull markets, even during periods of substantial price increases, there are often corrections of around 5 percent or even 10 percent.

Chinese consumers remain gold enthusiastic despite soaring prices

A former television host from Taiwan, Zhai Xuan, has made a pivotal decision to leave mainstream broadcasting in order to create content that provides a better understanding of the Chinese mainland and cross-strait relations.

Zhai, a seasoned television host with over a decade of experience in Taiwan's media landscape, recently addressed an audience at an event in Beijing, where she revealed her complete transition into independent online media.

In her remarks, she articulated her aspiration to bridge what she perceives as a significant information gap between audiences on both sides of the Strait, highlighting her commitment to fostering a deeper understanding and connection through her new endeavors.

"I was really surprised by all the fake news. There were stories saying people on the mainland can't afford tea eggs or that they live in mud houses and in Taiwan, this was the main information many people received," said Zhai.

Zhai said she initially began producing online videos to challenge such perceptions while continuing her work as a television host.

In April 2025, she travelled to the mainland with her father to fulfill her late grandfather's wish to return to his hometown. The trip, which reunited family members separated since 1949, was recorded in a video series titled "Journey to Find Our Roots", drawing attention from viewers in both Taiwan and the mainland.

"Many people in Taiwan told me that after watching, they wanted to apply for a mainland travel permit immediately and go looking for their relatives. Some had long forgotten these things, but after seeing my story, they began thinking about their hometowns and family members they had never met and decided to search for their roots," Zhai shared her story at the event.

By mid-2025, Zhai said she began to feel increasing pressure amid rising political tensions and a tightening atmosphere around cross-Strait exchanges in Taiwan.

After more than 12 years in the industry, Zhai resigned from her position, believing it was the right thing to do.

"At that moment, I felt this was a major issue，not just for me, but for Chinese people on both sides of the Strait. If I backed down then, I wouldn’t be standing on the right side," said Zhai.

Since leaving television, Zhai has broadened her online programming to encompass a range of daily-life topics, including practical guidance on applying for a mainland travel permit and using commonly employed mobile applications, in addition to content that delves into historical memory and cultural connections across the Strait.

As the debate over cross-Strait relations continues in Taiwan, Zhai said she remains committed to her current path.

Former Taiwan TV host bridges cross-Strait divide via online media